DON’T ROLLOVER AND GIVE IN

It’s easy to just stop everything, keep watching the news, and look out at a very dismal forecast.  In every disaster opportunity arises.

In these anxious times, make your list, and do all the things you’ve been putting off.  Make it the most productive time you have had in ages.  As you do these things, you will see various ideas, and opportunities surface, where, in the past, you were too busy or too stressed to recognize them.  Pull your mental and physical resources together.

For example: Your customers are scared and anxious.  Why not reach out to them on a positive note.  You have the time.  Just a phone call, just an email, asking how they’re doing, that you are thinking of them.  The media continues to update us, but it continues to cause terrific anxiety.  Try to be proactive and positive, and look outside your circle.  People will remember you and your actions, and it’s a little bit of time and effort.  Probably the best Public Relations that you’ll ever do.

Remember when you started your venture?  You didn’t sit around being scared, you were active, reaching out.  Not any different now.

We still can improve your Cash Flow, if you are waiting to get paid. Factoring turns your outstanding invoices into cash quickly, so you can continue to build your business.  Keep this in mind for future business, as we turn the corner on this latest challenge.

IMPORTANT THINGS TO LOOK AT

While rate is important, more important are terms and conditions.

1. Do you have monthly minimums with this factoring company?

If there is, you will be charged a fee for not factoring that monthly minimum.

2. Is there a penalty for early cancellation?

There is a big monetary penalty in most cases for early cancellation. Example, the number of months left on the contract times a percentage of your monthly line of credit.

3. Renewal: If you have a term contact, it usually automatically renews, UNLESS, you send written notice 30 to 60 days in advance.  Sometimes it must be a registered letter, not just an email.

While rate is important, it is a known fact that if you only factor when you need to or want to, you will not spend as much money, although the rate may be slightly higher, than if you sign a Term Contract with a Monthly Minimum.  You will spend more money with a monthly minimum contract, although the rate will be lower. You should be in control of your money.

Volume and the Credit Worthiness of your Customers are major deciding elements on rate. That is one of the reasons when you sign a one- or two-year contact with a monthly minimum, your rate is very attractive.  You have to think if you will really need to factor every month, a minimum, like $50,000 or $100,000 every month for the next 12 to 24 months.

Guilin Funding has a large database of factoring companies in all industries, and is constantly adding more resources and updating different companies’ requirements.  We DO NOT charge a fee and you DO NOT sign anything to work with us.

At Guilin Funding we have been helping businesses just like yours grow and thrive in today’s rapidly changing economy. Give Anne Gordon “The Money Lady” a call directly at (877) 872-4879